Company Profile

Deep Yellow Limited (ASX:DYL) is a specialist uranium company implementing a new strategy to grow shareholder wealth. This strategy is founded upon growing the existing uranium resources across the Company’s uranium projects in Namibia and the pursuit of accretive, counter-cyclical acquisitions to build a geographically diverse asset portfolio.

In parallel to its expansion objectives, the Company has a cornerstone suite of projects in Namibia, a top-ranked African mining destination with a long, well regarded history of safely and effectively developing and regulating its considerable uranium mining industry.

Deep Yellow holds four contiguous Exclusive Prospecting Licences (EPLs) covering 1,730km2 within the heart of what is a world recognised, prospective uranium province of high significance. The tenements are strategically located amongst the major uranium mines of this region – 20km south of the Husab/Rössing deposits and 40km southwest of the Langer Heinrich deposit.

Previous exploration has delineated a current resource base of 50.1Mlb U308 @ 245ppm (palaeochannel related/Langer Heinrich style deposits) and 45.1Mlb U308 @ 420ppm (alaskite related Rössing and Husab style deposits). The belief of current management is that these resources can be enhanced significantly and the 2017 exploration programme has already achieved a new discovery.

Corporate Strategy

Since the appointment of John Borshoff as CEO and Managing Director in October 2016, the Company has set a new direction built around a robust strategy to grow shareholder wealth. This realignment is designed firstly to establish the true potential of its Namibian projects and secondly to take advantage of prevailing depressed uranium market conditions to opportunistically acquire value adding projects and it has already delivered tangible results.

The first pillar of the new strategy is to grow resources across Deep Yellow’s existing uranium assets in Namibia and a number of significant achievements have been made in this respect. This includes a landmark $4.5m earn-in joint venture by the Japanese group JOGMEC and importantly, the discovery of a new uranium deposit (Tumas 3) in April 2017 during the early stages of a 10,000m drilling programme on Deep Yellow’s 100% owned ground. Numerous new targets remain to be tested along a 100km highly prospective palaeochannel system that has been identified.

The second pillar of the Company’s strategy is to establish a global, multi-project, geographically diverse uranium platform through the pursuit of selective, value accretive acquisitions. The Board believes long-term shareholder value can be created by adopting a counter-cyclical approach in the current low uranium price environment.